Crypto ATM Market revenue to cross USD 4.5 Bn by 2028:

Selbyville, Delaware, May 16, 2022 (GLOBE NEWSWIRE) –

The market size of cryptographic ATMs is expected to be valued at $ 4.5 billion by 2028, according to the latest study by Global Market Insights Inc. Market growth can be attributed to the growth of government permits to use cryptocurrencies in regions such as North America and Europe.

The demand for printers used in cryptographic ATMs is increasing worldwide as they offer enhanced output functionality. It allows the printing and distribution of transaction receipts, mostly using QR codes. For customers without a wallet, the machine prints a wallet on paper at the end of the process or before purchase. It usually contains a public key (at the top) and a private key (at the bottom). Sweeping bitcoins from a printed private key helps to import the key that allows customers to use their wallets to manage them. A paper wallet is a secure way to protect bitcoins from cyberattacks and malicious software as it is only shared with the user to import cryptocurrency into a digital wallet.

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The demand for two-way cryptographic ATMs is increasing due to the growing emphasis on making financial transactions at ease. These ATMs allow users to buy and sell bitcoins using cash. This ATM is more convenient than online exchanges as it is not necessary to link consumer banking information, so great data integrity is provided. The paper wallet generated by two-way cryptographic ATMs gives consumers the option to keep their bitcoin offline in a physical wallet or transfer it to an online wallet. Two-way ATMs offer additional security by two-factor authentication of cryptocurrency transactions. Users must confirm the phone number using an SMS code, followed by a biometric ID.

The display segment in the cryptocurrency ATM market is growing as it offers an interactive interface, which allows users with minimal technical knowledge to make transactions efficiently. The screen offers the optimal purchase price based on the current exchange rate, which the ATM gets in real time from the internet. Crypto ATM offers simpler trading options and users do not need to set up an online account or wallet.

The market share of European ATMs is increasing due to the growing number of people adopting cryptocurrencies with electronic devices. The growing penetration of smartphones is stimulating the growth of the industry as it allows cryptocurrency users to take full advantage of the capabilities of cryptographic ATMs. According to the GSMA, 472 million Europeans (86% of the population) were subscribers to mobile services by 2020. Several countries, such as France, Germany and Spain, are supporting the development of the cryptocurrency ATM market due to the presence of major Smartphone Providers, Including Apple and Samsung.

The main participants operating in the cryptographic ATM market are Bit Base SL, Bitaccess Inc., Bitcoin Depot, Bitstop, Byte Federal, Inc., Coin Cloud, CoinFlip, Coinme, Coinsource, GENERAL BYTES sro, Genesis Coin Inc., Lamassu Industries AG, Localcoin, National Bitcoin ATM, Orderbob (ServiceBob) and RockitCoin.

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Some key findings of the Cryptographic ATM Market Report are:

  • The integration of biometric technologies will help the industry grow as it offers enhanced security and more secure digital conversion and payment features to users.
  • The large number of bitcoin transactions and acceptability as a payment method are driving market demand.
  • The increased demand for cryptocurrency ATMs is being driven by the need for more security and flexibility in cryptocurrency transactions. It has a strong encryption technique that enables secure and automated buying and selling operations. Advanced algorithms that offer enhanced performance and security capabilities are fueling the demand for cryptographic ATMs.
  • The cryptocurrency ATM market is experiencing high demand for unidirectional cryptocurrency ATMs as they allow users to purchase multiple digital currencies, such as Bitcoin Cash, Ethereum and Litecoin, from a single machine. Eliminates the possibility of fraud due to the lack of third parties in these transactions. These machines protect individual privacy by not disclosing portfolio information to other users, thus promoting market growth.

Index (ToC) of the report

Chapter 3 Crypto ATM Market Information
3.1 Introduction
3.2 Impact of COVID-19
3.3 Impact of the Ukraine-Russia war
3.4 Analysis of the industry ecosystem
3.4.1 Suppliers of raw materials
3.4.2 Component Suppliers
3.4.3 Technology / Software Providers
3.4.4 Manufacturers
3.4.5 System integrators
3.4.6 Financial companies
3.4.7 Distribution channel analysis
3.4.8 Matrix of suppliers
3.5 Technological and innovation landscape
3.6 Investment landscape
3.7 Regulatory landscape
3.8 Impact forces of the industry
3.8.1 Boosters of growth The growing demand for cryptocurrency mining in North America Government initiatives to support the adoption of cryptocurrencies in Europe Digitization in the Latin American banking sector Increasing adoption of digital assets in the MEA
3.8.2 Industry Traps and Challenges High usage fee and non-refundable transactions Security issues and ATM fraud
3.9 Analysis of growth potential
3.10 Porter’s Analysis
3.11 PESTEL Analysis

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About Global Market Insights Inc.

Global Market Insights Inc., based in Delaware, USA, is a provider of global market research and consulting services, providing syndicated and customized research reports along with growth consulting services. Our business intelligence and industry research reports provide customers with insightful information and actionable market data specially designed and presented to help them make strategic decisions. These comprehensive reports are designed using a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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